Advertisement

Picture Swiss Biotech Association Swiss Biotech Days 2024 SBD24 Basel 650x100px
Document › Details

BRAIN Biotech AG. (2/29/24). "Press Release: BRAIN Biotech AG Successfully Placed EUR 5.0 Million Convertible Bond for the Financing of Further Growth Initiatives [Not for US, AU, et al.]". Zwingenberg.

Organisations Organisation BRAIN Biotech AG
  Group BRAIN Biotech (Group)
  Organisation 2 MP Beteiligungs-GmbH
  Group Putsch (Recaro) (Group)
Products Product industrial biotechnology
  Product 2 investment management
Index term Index term BRAIN Biotech–Putsch (Recaro): credit, 202402–202609 convertible bond €5m with MP Beteiligungs-GmbH at 6.52% p.a.
Persons Person Moelker, Adriaan (BRAIN 202002– CEO before Flint Group + AB Enzymes + Genencor + DSM)
  Person 2 Konle, Stephanie (BRAIN 202002– Managing Associate Corporate Communications before Weka Business Medien + Merck)
     


At its meeting today and with the approval of the Supervisory Board, the Management Board of BRAIN Biotech AG has resolved, to issue convertible bonds in the total nominal amount of EUR 5.0 million, making partial use of the authorization of the ordinary annual general meeting on 8 March 2023. The subscription rights of existing shareholders of the Company have been excluded. The placement has been executed entirely in the form of a private placement to MP Beteiligungs-GmbH.

The convertible bonds bear interest at a rate of 6.52 % p.a. on the nominal amount. The initial conversion price of EUR 5.04 was set with a conversion premium of 27 % above the reference share price of EUR 3.97. The maturity date is 5 September 2026.

BRAIN Biotech AG intends to use the net issue proceeds for the financing of growth initiatives and general corporate financing purposes.

Adriaan Moelker, CEO BRAIN Biotech AG, stated: “I would like to thank our anchor shareholder, MP-Beteiligungs-GmbH, for their continued support on our growth path. This successful transaction is another clear sign of confidence in our business strategy.” Michael Schneiders, CFO BRAIN Biotech AG, added: “This financing initiative via an equity linked transaction adds to our financing toolbox which is majorly focused on non-dilutive instruments. At our upcoming AGM on March 12th, we will ask our shareholders to approve a total of EUR 5 million non-dilutive silent participations. With these measures, we view ourselves as adequately financed for the foreseeable future.”


+++ End +++


Disclaimer

NOT FOR DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR DISSEMINATION WOULD BE UNLAWFUL. OTHER RESTRICTIONS APPLY.


About BRAIN

BRAIN Biotech AG is a leading European supplier of bio-based products and solutions such as enzymes and proteins, microbial production strains, natural compounds and biotechnological solutions for more sustainable industrial processes. The company focuses on the fields of nutrition, health and environment.

BRAIN Biotech AG is the parent company of the international BRAIN Biotech Group. The Group's business activities are divided into three segments: The BioProducts segment comprises the product business with specialty enzymes and other proteins, for which the Group operates fermentation facilities in the United Kingdom and production facilities in continental Europe and the United States. The BioScience segment offers research-intensive custom solutions based on enzyme technology, strain development, bioprocess development and natural product screening. The BioIncubator segment conducts its own R&D projects or those initiated with partners with high value-added potential. A particularly promising incubator project is the development of the Company's own CRISPR-based gene editing technology platform, which is currently being established and expanded by Akribion Genomics (in foundation planning).

Through its own R&D activities, BRAIN Biotech Group is continuously expanding its product portfolio in the field of specialty enzymes and small molecules. The latter are the starting point for screenings, e.g. for novel drug candidates for pharmaceutical applications.

BRAIN Biotech AG has been listed on the Prime Standard of the Frankfurt Stock Exchange since February 9, 2016 (ticker symbol: BNN; securities identification number: ISIN DE0005203947 / WKN 520394). The company employs approximately 330 people and generated revenues of EUR 55,3 million in the fiscal year 2022/23.

For more information, please visit: https://www.brain-biotech.com, LinkedIn, Threads and YouTube.


Disclaimer

This press release contains forward-looking statements. These statements reflect the current views, expectations, and assumptions of the management of BRAIN Biotech AG, and are based on information currently available to the management. Forward-looking statements are no guarantees of future performance, and entail both known and unknown risks as well as uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Numerous factors exist that could influence the future performance of and future developments at BRAIN Biotech AG and the BRAIN Biotech Group. Such factors include, but are not limited to, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, as well as other factors. BRAIN Biotech AG does not undertake any obligation to update or revise any forward-looking statements.


Contact Media

Dr. Stephanie Konle
pr@brain-biotech.com
+49 6251 9331 70

Contact Investor Relations

Martina Schuster
ir@brain-biotech.com
+49 6251 9331 69

   
Record changed: 2024-03-14

Advertisement

Picture EBD Group World of Partnering Opportunities 650x200px

More documents for BRAIN Biotech (Group)


To subscribe to our free, monthly newsletter for the European life sciences, please send an e-mail to info@iito.de and simply fill the subject line with the word »LSE Newsletter«

Find more infos about advertising at [iito] web portals in our media flyer [iito] in a Nutshell [PDF file]

Advertisement

Picture Berlin Partner Top News Bayer Aignostics Collaboration 650x300px




» top